The Construction MMI (Monthly Metal Index) rose for the first time in five months, welcoming a 3.97% increase. However, this rise could prove deceiving as the index still faces numerous bearish sentiments. Bar fuel surcharges rising helped the index rise month-over-month, along with did aluminum bar prices. Steel rebar and h-beam steel prices, on the […]
Category: Metal Pricing
Automotive MMI: Possible UAW Strike Could Seriously Impact Industry
Month-over-month, the Automotive MMI (Monthly Metals Index) slid downward by 3.42%. Steel prices within the index, like hot-dipped galvanized, trended sideways. However, copper and lead fell, introducing bearish pressure. Overall, the U.S. automotive industry witnessed some dynamic changes month-over-month. More robust demand for personal transport continues to emerge as supply chains regain strength. This will […]
Rare Earths MMI: Is China Losing the Rare Earth Magnets Race?
Seeing its first significant rise in over eight months, the Rare Earths MMI welcomed a boost of 6.84% month-over-month. Indeed, Chinese production of rare earths and rare earth magnets finally appears on the rise. It’s also possible that Chinese stimulus efforts impacted prices month-on-month. Neodymium, for instance, began a rally in mid-August before slowing down […]
Platinum’s Dramatic Reversal: Are Precious Metals Prices Poised for a Resurgence?
Since late spring, platinum prices have seen significant downward movements. Crushed by bearish price action, prices have since declined by as much as 14%. At $950 / oz, platinum breached prior lows that had previously acted as support zones. However, precious metals prices for platinum recently bounced by 10% from the most recent low, shooting […]
Global Precious Metals MMI: Precious Metal Prices Drop Below Support Zones
The Global Precious Metals MMI did not deviate far from its ongoing sideways trend. Indeed, since April, the index has continued to stay within a tight trading range without much movement up or down. Moreover, precious metal prices, including those for gold and silver, remain relatively high when looking at their respective price ranges over […]
Renewables/GOES MMI: Cobalt and Other Battery Metals Prices Rise Slightly
Since April, the Renewables MMI (Monthly Metals Index) has been in a tight sideways trend. Falling demand and slumping material production for battery metals in China, as well as an oversupply of materials continue to exert bearish pressure on the index. However, month-over-month, the index finally broke its sideways trend, rising by 4.75%. Chinese stimulus […]
Raw Steels MMI: HRC Steel Prices Resume Downtrend, Cliffs Looks to Acquire U.S. Steel
The Raw Steels Monthly Metals Index (MMI) moved sideways, with steel prices experiencing a modest 1.17% decline from July to August. Flat-rolled steel prices seemingly found a bottom at the end of June before experiencing a modest increase. By mid-July, prices returned bearish, edging downward during the remainder of the month. HRC prices ultimately traded […]
Stainless MMI: Outokumpu Looks to Expand After Q2 Drop, Nickel Prices Find Lower High
Although nickel prices rose more than 8% during July, prices found a peak at the beginning of August and fell to create a higher high. Indeed, prices began to retrace downward as bearish patterns became apparent in price action. While prices have yet to substantially break below monthly support or create a new lower low, […]
Construction MMI: Chinese Manufacturing Still Slumping, Impacting U.S. Construction
The Construction MMI (Monthly Metals Index) continues to experience pressure from both sides amid conflicting global construction news. For instance, U.S. scrap steel prices recently dropped due to more vehicles being manufactured (car manufacturing always produces ample scrap). However, Chinese steel product prices went up at the same time. Ultimately, metal markets witnessed more movement […]
Copper MMI: Copper Prices Edge Upward As Investment Funds Increase Bullish Bets
The Copper Monthly Metals Index (MMI) rose 3.79% from July to August. Copper prices started to show uncertainty last month amid an absence of directional strength. A lack of bullish or bearish patterns that would otherwise drive prices translated into minimal momentum to the upside or downside. Copper prices today continue to move in a […]
